INVO Bioscience Management Letter to Shareholders
SARASOTA, Fla., Jan. 7, 2021 /PRNewswire/ -- INVO Bioscience, Inc. (NASDAQ: INVO) ("Company") ('INVO"), a medical device company focused on commercializing the world's only in vivo Intravaginal Culture System, INVOcell®, an effective and affordable treatment for patients diagnosed with infertility, is pleased to provide a year-end letter to shareholders.
As we begin the 2021 calendar year, we wanted to take the opportunity to wish you all a Happy New Year and to provide a brief summary of our recent progress at INVO, which we feel has been transformative to the business. We would also like to provide an outline of our key initiatives moving forward.
It goes without saying that 2020 was truly a unique year. The COVID-19 pandemic negatively impacted the entire world economically, physically, and psychologically. We are optimistic that as new treatment modalities and vaccines come to market that we can begin to return to some sense of normalcy throughout 2021.
Similar to many other medical device companies that support discretionary procedures and treatments, our commercialization efforts and the general pace of INVOcell's market adoption was certainly impacted during 2020, both with our internal efforts and our key partnering activities. However, we believe our overall market opportunity was not impacted as we believe INVOcell is well suited to address existing lab capacity challenges and provide an affordable and efficacious fertility option for patients in need.
Various market estimates suggest that the current Global Fertility market exceeds $20 billion and is growing, yet it remains severely underserved, with nearly 95% of couples in need of infertility treatment going without care. High costs relative to success, limited access to treatment in many areas, existing lab capacity issues, as well as cultural and religious factors are all contributors to this significant underserved market.
The underserved market is the real opportunity for INVOcell. We believe the value proposition of INVOcell as an affordable and efficient treatment technology with reduced infrastructure requirements can expand capacity and access to care, allowing us to increase adoption as patients look for alternative and effective solutions with strong clinical outcomes.
We believe the Company's progress over the past 18-24 months has proven to be transformational and has positioned us well for future market expansion. These highlighted accomplishments include the following:
We have gained a great deal of understanding over the past two years as early adopting clinics have honed their knowledge on how to best implement and utilize INVOcell in their collective practices and the additional information regarding the successful outcomes of INVOcell's usage has been made available. We intend to leverage this knowledge and understanding to support the ongoing worldwide commercial efforts of INVOcell. As we look ahead in 2021, we are working towards the following objectives:
In conclusion, we are truly excited about INVO's opportunity and our plans and initiatives during 2021 and beyond. On behalf of the entire INVO Bioscience team, we sincerely appreciate the shareholder support and look forward to providing additional updates and progress in early 2021.
About INVO Bioscience®
We are a medical device company focused on creating simplified, lower-cost treatments for patients diagnosed with infertility. Our solution, the INVO® Procedure, is a revolutionary in vivo method of vaginal incubation that offers patients a more natural and intimate experience. Our lead product, the INVOcell®, is a patented medical device used in infertility treatment and is considered an Assisted Reproductive Technology (ART). The INVOcell® is the first Intravaginal Culture (IVC) system in the world used for the natural in vivo incubation of eggs and sperm during fertilization and early embryo development, as an alternative to traditional In Vitro Fertilization (IVF) and Intrauterine Insemination (IUI). Our mission is to increase access to care and expand fertility treatment across the globe with a goal to lower the cost of care and increase the availability of care. For more information, please visit https://invobioscience.com/.
Safe Harbor Statement
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE INVO Bioscience, Inc.
Company Codes: ISIN:US44984F1049, NASDAQ-NMS:INVO